AmEx Surviving Cobrand Losses as US CIF +6.4% YOY

AmEx Surviving Cobrand Losses as US CIF +6.4% YOY

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The impact of the loss of the U.S. Costco and JetBlue programs is manifesting itself in the American Express (AmEx) U.S. Card Services (USCS) unit during the first quarter (1Q/16). However, AmEx continues to open new accounts at a record clip. Revenue and income were up slightly year-on-year (YOY) as outstandings…

Sezzle to Get Some Sizzle at FinovateSpring Next Week

Sezzle to Get Some Sizzle at FinovateSpring Next Week

Sezzle’s bank-to-bank payments technology will breakthrough next week at the FinovateSpring 2016 event in San Jose. Sezzle’s technology allows for an alternative low-cost payment method at checkout – effectively halving the cost of traditional credit and debit card merchant processing – all via bank to bank payment technology. At checkout, Sezzle allows consumers to link…

Synchrony Retail Cards Continue to Bulldoze Profits

Synchrony Retail Cards Continue to Bulldoze Profits

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Synchrony Financial’s retail credit card business revenues posted a huge 14.7% year-on-year (YOY) gain for the first quarter (1Q/16) to $2.03 billion. During the quarter Synchrony renewed the Stein Mart and La-Z-Boy programs; signed a partnership with Marvel to offer Marvel MasterCard and co-promote Synchrony Bank’s deposit products; launched the Citgo…

Despite -23% Fuel Prices WEX 1Q Rev +12% FX; TX +9%

Despite -23% Fuel Prices WEX 1Q Rev +12% FX; TX +9%

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] ME-based fuel card kingpin, WEX, reported first quarter (1Q/16) total revenue inched up 1.8% year-on-year (YOY), however net income rose 3.6% YOY in 1Q/16. Total revenue was $205.9 million for 1Q/16, compared to $212.6 million in 4Q/15, and $202.3 million for 1Q/15. WEX notes adjusting for constant currency (FX), fuel prices,…

BRIEFS: BLUEFIN; 3DCART; SYNCHRONY; and SHOPIFY

In Other News: BLUEFIN (DSP); 3DCART (Vantiv); SYNCHRONY (Suzuki); and SHOPIFY (1Q). BLUEFIN -Bluefin Payment Systems will provide the Visa Data Secure Platform (DSP) through their Decryption as a Service P2PE Solution. 3DCART -Shopping cart software provider 3dcart has partnered with Vantiv, a provider of payment processing services and related technology solutions for merchants and…

PayPal Rockin ’n Rollin - Profits +43% TPV +29% YOY

PayPal Rockin ’n Rollin – Profits +43% TPV +29% YOY

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] PayPal continues to rock ’n roll as profits soared 43% year-on-year (YOY) in the first quarter (1Q/16) driven by total payment volume (TPV) up 29% YOY. However, the transaction margin declined 380 basis points (bps) in the quarter, compared to 1Q/15. Transaction revenues for 1Q/16 increased 17% YOY to $2.24 billion,…

New Report - EMV Testing and Certification for Acquirers

New Report – EMV Testing and Certification for Acquirers

Questions have been emerging from merchants and acquirers regarding the requirements for testing and certifying contact and contactless chip-enabled terminals. The EMV Migration Forum released a revised version of the white paper, “EMV Testing and Certification White Paper: Current Global Payment Network Requirements for the U.S. Acquiring Community,” to provide the most up-to-date requirements and…